In a report released today, Emily Bodnar from H.C. Wainwright maintained a Buy rating on Agenus, with a price target of $23.00.
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Emily Bodnar has given her Buy rating due to a combination of factors that highlight Agenus’s promising developments and strategic positioning in the oncology market. One of the key reasons is the recent authorization of botensilimab and balstilimab for compassionate use in France for patients with refractory microsatellite-stable metastatic colorectal cancer. This approval not only provides an additional revenue stream for Agenus but also helps in gathering real-world clinical evidence, which is crucial for supporting the broader use of these treatments.
Furthermore, the Phase 1 trial results for botensilimab and balstilimab in this patient population have shown encouraging survival rates and durable tumor responses, indicating a potential breakthrough for patients resistant to existing immunotherapies. The significant unmet need in colorectal cancer, particularly in France, underscores the importance of these developments. Additionally, Agenus’s ongoing efforts to expand clinical evidence and explore further applications of their treatments across various tumor types further solidify the company’s growth prospects and justify the Buy rating.